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Co-author Dr James Reade, sports economist at the University of Reading, said: "This is a real 'wisdom of crowds' kind of outcome. It says that if we listen to the right parts of the crowd, we can gain more information and make better predictions.

"It's great for football fans, who always want to know what others think of their team. Betting prices, allied with the general mood on Twitter, can give a really accurate picture of where a match is going, in real time."

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"At first glance this may be surprising, as we might think that an individual in possession of valuable information would bet or trade first, and post later. However, if we think that valuable information is dispersed among a number of individuals, then we might understand why social media content leads market prices, as it does in this study and elsewhere."